Monthly

The year has started with financial issues taking center stage, as concerns about the evolution of the exchange rate, inflation and credit spreads have taken center stage in the economic debate. The rapid and large depreciation of the parallel exchange rate has been the dominating financial issue (see section 2)...

Argentina has done it once more, and the financial markets are desperately looking for answers. Uncertainty is the name of the game. First, the province of Chaco made a payment in pesos of a dollar denominated bond, while just three weeks later a New York Court of Appeals released a decision that represented a setba...

The recent economic indicators tend to confirm that the economy is entering in a period of stagflation. We have revised downward our estimates for this year and we now expect it to grow by around 0.5%, in spite of a statistical "carry over" effect of 1.4 percentage points from last year. On the other hand, we ...

The economy could have entered into recession territory in the second quarter while inflation and wage increases have remained unabated at around 25%, the spread in the parallel exchange rate market reached 30% and there are no indications that it is going to drop any time soon, import controls are preserving reserv...